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re: How much of Louisiana's economy is dependent on O&G?
Posted on 1/21/16 at 9:41 am to Kracka
Posted on 1/21/16 at 9:41 am to Kracka
hwy 90 is gonna get hit hard, with how much dependency it has on the services firms. broussard all the way to houma may very well get rocked.
just drive down 90 and you see baker, halliburton, schlumberger, weatherford, cameron, etc, etc, etc...
just drive down 90 and you see baker, halliburton, schlumberger, weatherford, cameron, etc, etc, etc...
Posted on 1/21/16 at 9:42 am to bayoudude
I was in college at USL during the 80's oil bust. Many families not oil field employed by oil economy dependent, lost their homes, had to pull their kids out of school, moms went to work to pay the bills, deserted, abandoned shopping centers.. It was a very difficult time.
Posted on 1/21/16 at 9:45 am to Hammertime
I can't speak for NLa but Lafayette all the way down to Houma is fricked. Hell I went to pick up some sausage at a store in Mamou and the owner tol me he's been hit hard already. To not understand that almost everything in that region is supported by O&G in one form or another is just plain ignorant. Pick a restaurant I. Lafayette, any one you choose, and ask how business is going. That goes for movie theaters, clothing stores, you name it. Youngsville will be a ghost town at yrs end if this shite doesn't pick up.
Posted on 1/21/16 at 10:07 am to moneyg
You're confusing dependent on O&G with work in O&G
Posted on 1/21/16 at 10:13 am to JJBTiger2012
quote:
To not understand that almost everything in that region is supported by O&G in one form or another is just plain ignorant
It never ceases to amaze me that people seem to think they are insulated from the Oil price crash b/c their job does not directly deal with O&G.
If you're a bar tender, who do you think spends all the money in the bars? If you sell real estate, who do you think buys the houses? If you own a grocery store, who is buying the groceries? On and on and on, and yet these simpletons think their jobs are not tied to the oil field.
If you live in south Louisiana, your job is tied to the oil field whether you like it or not.
Posted on 1/21/16 at 10:23 am to CptRusty
quote:
If you're a bar tender, who do you think spends all the money in the bars?
In New Orleans, tourists mainly.
quote:
If you sell real estate, who do you think buys the houses?
In New Orleans, a vast majority of people who don't work in O&G.
This post was edited on 1/21/16 at 10:25 am
Posted on 1/21/16 at 10:26 am to Epic Cajun
Epic I'm pretty sure that capt was referring to the Acadiana area.
Posted on 1/21/16 at 10:28 am to Epic Cajun
quote:
In New Orleans, tourists mainly.
I understand that tourism is a large part of the NO economy but O&G still has the trickle down effect. O&G companies lay off or move employees, tax base goes down, investors start to bail, city gets more shitty. When you live in a state with one sector with that big of a base in the economy, it affects everything.
Posted on 1/21/16 at 10:30 am to JJBTiger2012
quote:
Epic I'm pretty sure that capt was referring to the Acadiana area.
If that's where he's referring, he has a more valid point.
Posted on 1/21/16 at 10:46 am to JJBTiger2012
quote:
Epic I'm pretty sure that capt was referring to the Acadiana area.
Yes
I have no idea about New Orleans. I would think they are much more insulated from O&G than we are here.
Posted on 1/21/16 at 10:54 am to Kajungee
quote:
Curious how many posting in this thread were working for a living in south louisiana during the 1980's
In the 80s I got let go from my dad's appliance store (no severance) because there were not enough deliveries for me to do. Of course the lack of deliveries was a direct result of the oil bust. Gas was cheap; I delivered pizza, finished up at LSU, and then moved out of state for a while.
The ripple effect is real.
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